Bajaj Housing Finance share is trading at ₹134.4 on Thursday morning, up by 2% after the company announced strong Q4 results. The stock opened at ₹135 today, touched a high of ₹136.96, and hit a low of ₹133.5. The previous close was ₹131.88. The market responded positively as the company posted a solid performance for the March quarter, with healthy growth in profits and loan disbursements.
Key Highlights – Bajaj Housing Finance Q4 FY24 Results
- Net Profit: ₹587 crore, up 54% year-on-year (YoY) due to strong business growth and solid asset quality.
- Net Interest Income (NII): Increased 31% YoY to ₹823 crore, compared to ₹629 crore in Q4 last year.
- Net Interest Margin (NIM): Held steady at 4%, up from 3.8% in the same period last year.
- Assets Under Management (AUM): Rose 26% YoY to ₹1.15 lakh crore. Home loans made up 56% of the total portfolio.
- Loan Disbursals: ₹14,254 crore in Q4, up 25% from ₹11,393 crore in the same period last year.
- Asset Quality: Gross non-performing asset (GNPA) ratio stood at a low 0.29%, indicating healthy asset performance.
- Operating Profit: Grew 43% YoY to ₹750 crore, up from ₹523 crore last year.
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Capital Position: Net worth stood at ₹19,932 crore. Capital adequacy ratio was strong at 28.24%, well above the required 15%.
Despite the strong Q4 performance, analysts remain cautious. According to Trendlyne data, the average target price for the stock is ₹113, suggesting a downside of about 15% from current levels. Out of 8 analysts, the consensus rating remains ‘Sell’. On Wednesday, the stock closed at ₹131.8, up 0.5%, while the Sensex gained 0.65%. Over the last three months, Bajaj Housing Finance shares have rallied nearly 20%.